Food Inflation Slowing Down as Commodity Prices Ease, Offering Relief to Consumers and Producers
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Recession fears eased by latest Producer Price Index report showing slowing inflation.
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Food inflation expected to ease in 2024 as costs of staples like sugar, coffee, corn and soybeans decline after years of surging higher.
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Lower agri commodity prices to benefit bakers, dairy and animal protein producers with cheaper ingredients.
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Grocery prices still high due to energy, labor and other costs, but latest government data shows easing food inflation.
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Prices rose in October for beef, veal and frozen vegetables but fell for eggs, bacon, sausage and lunch meats.